CNOOC Limited (the "Company", SEHK: 883; NYSE: CEO) today announced the success of an appraisal well, XJ23-1-4 in the Pearl River Mouth Basin of the Eastern South China Sea at the end of last year.

XJ23-1-4, an appraisal well on XJ23-1 discovery, is located about 19 km west of XJ24-3 oil field and 1 km south of XJ23-1-1 discovery well. During two drill stem tests, the well flowed over 4000 barrels of API 24.51-31 degrees crude per day on 15/64?? and 30/64?? chokes.

Mr. Ru Ke, Executive Vice President of the Company, commented: "The well encountered about 50 meters of pay zones. It shows that the Pearl River Mouth Basin continues to offer new hydrocarbon prospects."